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PCK: California Muni Bonds Remain Attractive, At The Right Price

https://seekingalpha.com/article/4314912-pck-california-muni-bonds-remain-attractive-right-price

PCK: California Muni Bonds Remain Attractive, At The Right Price
Jan. 02, 2020 11:38 AM ETPimco California Municipal Income Fund II (PCK)PCQ, PZC6 Comments3 Likes
Summary
PCK has been a long-term favorite of mine, although I advised caution on the fund over the summer due to a rising valuation. In hindsight, this was a good call.
As premiums have risen across the market and PIMCO CEFs, PCK now offers a more compelling relative value going in to 2020.
California municipal bonds will remain in demand next year due to their tax-exempt status. With supply and defaults both trending at below-average levels, there is positive momentum for this sector.
PIMCO declared a special distribution for PCK in early December, which makes me confident in the fund going forward
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